IRS Deadline to Direct Deposit of Stimulus Money USA - Get My PaymentDaniel McCarthy (Author) Published Date : May 12, 2020 11:04 IST
More than a month from the first recipients of the stimulus payments, still 20 million Americans are waiting for it. It is as per the official disclosure of the IRS and the Treasury on May 8. And now, these 20 million people have until today May 13 to upload all their information in the IRS tool Get My Payment app.
Failing todo so will result in your payments being sent to the Bureau of Fiscal Services, a Treasury arm which is responsible for sending paper checks. But that may take up to the end of May and may continue into June.
Chuck Retting, the IRS Commissioner in a statement on Friday, May 8, had said that the time is running out and for those who want to receive their payments in a direct deposit mode. And after the Wednesday deadline is over, it is no use of updating details in the Get My Payment and has to wait only for the paper checks.
The US government's announcement of economic impact payment of $ 1,200 for individuals with less than $ 75,000 income and $ 2,400 for couples with less than $150,000 income plus $ 500 for each dependant started rolling out from Good Friday on April 10.
But even as per the statement of IRS, only $ 200 billion have been disbursed to 130 million Americans so far. It leaves out 20 million people to yet receive the stimulus money. Many are frustrated about not having the money while others get it. Also, with the coronavirus crisis worsening every day, they are badly in need of the stimulus payment.
These 20 million people have, by the end of today, April 13, to log in to the IRS portal and check the status in the Get My Payment app. And upload all your information to receive direct payments into your bank accounts as early as possible.
For those who fail to do it or for those who face the problem of "Payment status not available" due to wrong bank details, or not filing tax returns and others. Then those people have to wait a bit longer to only receive paper checks by the end of May or in June.
IRS Deadline to Direct Deposit of Stimulus Money USA - Get My Payment